A Currency Pair quotes one currency against another, like EUR/USD. The first is the base currency, the second is the quote; the price shows how much of the quote currency buys one unit of the base. You are always long one currency and short the other.
How traders trade it
- Base first, quote second — EUR/USD is euros priced in dollars.
- Grouped into majors, minors and exotics.
- Buying the pair means buying the base, selling the quote.
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Related terms
Related: Forex (FX) · Pip · Bid and ask · Spread